3. There are 12 fishermen. In order to fish, each fisherman who decides to do so has to rent a boat for $25 a day. If x fishermen fish, each catches 120/x pounds of fish per day (so x can only be an integer). Each pound of fish could be sold for $1. a) If all fishermen decided whether to fish individually, what will be the total number of them fishing? b) What is the socially optimal number of fishermen?

3. There are 12 fishermen. In order to fish, each fisherman who decides to do so has to rent a boat for $25 a day. If x fishermen fish, each catches 120/x pounds of fish per day (so x can only be an integer). Each pound of fish could be sold for $1. a) If all fishermen decided whether to fish individually, what will be the total number of them fishing? b) What is the socially optimal number of fishermen?

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter2: Systems Of Linear Equations

Section2.4: Applications

Problem 28EQ

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